Chubb Bermuda has combined its Financial Lines and Excess Liability product lines under a single leader, Richard Porter, who has been promoted to an expanded leadership role as executive vice-president, head of Liability Lines.

He will assume full management, profit and loss performance responsibility for the new division, including ongoing development and execution of profitable underwriting portfolio management strategies and lead strategic business planning for product, service and distribution growth.

Mr Porter is based in Bermuda and will continue reporting to Judy Gonsalves, vice president of Chubb Group and division president, Chubb Bermuda.

Mike Warwicker, senior vice-president, head of Excess Liability, will remain in his current role reporting to Ms Gonsalves.

“By combining the product lines under one umbrella, Chubb Bermuda will leverage the broad similarities in underwriting practices, market dynamics, client base and broker relationships that exist in Financial Lines and Excess Liability to elevate the organisation’s underwriting and service excellence across Chubb Bermuda’s core longtail product lines,” said Ms Gonsalves.

“Rick has driven superior results as head of Financial Lines for Chubb Bermuda since assuming the role four years ago. His strong leadership, underwriting acumen and legal expertise will be invaluable in this new role and in executing our growth strategies for Liability Lines.”

Mr Porter is a recognised leader in the industry with over two decades of US and international industry experience. He has held several leadership roles at Chubb Bermuda, most recently serving as senior vice-president, head of Financial Lines, leading Chubb Bermuda's Financial Lines division, which includes Directors and Officers Liability, Cyber, Transactional Risk, Errors and Omissions and Employment Practices Liability.

Chubb Bermuda's Excess Liability and Financial Lines provide high excess capacity coverage solutions to a large portfolio of Fortune 500-1000 multinational corporations across all industry sectors.